Stryker 'not in discussions' to acquire Boston Scientific according to regulatory filing: 5 key points

Written by Megan Wood | June 13, 2018 | Print  |

Despite rumblings of a takeover bid, Stryker said it is not planning on acquiring Boston Scientific, Reuters reports.

Here are five key points:

1. On June 13, a regulatory filing from the company noted, "Stryker is not in discussions with Boston Scientific Corporation regarding a potential acquisition."

2. In light of this announcement, Stryker's shares increased 5.8 percent to $172.01 in pre-market trading. Boston Scientific's shares dropped 5.4 percent to $32.01.

3. The Wall Street Journal reported June 11 that Stryker made a takeover bid to acquire Boston Scientific, according to those "familiar with the matter." That afternoon, Stryker's shares fell more than 4 percent and Boston Scientific's increased about 8 percent, CNBC reports.

4. WSJ reported June 11 Boston Scientific had not commented on Stryker's takeover.

5. If the deal came to fruition, the new company would be valued at more than $110 billion. Stryker currently has a value of $67 billion and Boston Scientific is valued at $44 billion.

More articles on devices:
The 9 key players in the global hip replacement implants market
Stryker hunts tax cut for $92M expansion plans: 5 things to know
Dr. Ashish Sahai performs 1st procedure using Medacta SI joint screw system: 5 highlights

© Copyright ASC COMMUNICATIONS 2019. Interested in LINKING to or REPRINTING this content? View our policies here.

Top 40 Articles from the Past 6 Months